News & Analysis as of

Liquidation State and Local Government

Harris Beach Murtha PLLC

New Cannabis Litigation Questions New York’s Compliance with Governing Laws

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A new lawsuit recently commenced within the Onondaga County Supreme Court alleges the New York State Office of Cannabis Management (“OCM”) and the New York State Cannabis Control Board (“CCB”) have allegedly handled New York...more

Bradley Arant Boult Cummings LLP

Dude, Where’s My Liquidation?

Every election it seems like the country inches closer to cannabis being legal at the federal level. Until that day comes, however, the question of whether those in the cannabis industry can seek bankruptcy relief remains....more

Goodwin

Delaware ABCs (Assignments for the Benefit of Creditors): No Longer as Easy as 1-2-3

Goodwin on

Companies forced to wind down operations and liquidate their assets often choose a liquidation process known as an ABC (Assignment for the Benefit of Creditors). An ABC is usually more streamlined, requires fewer public...more

Herbert Smith Freehills Kramer

Insurance Commissioner, Acting as Liquidator of RRG, Is Not a “Governmental Authority”

When is an insurance commissioner not a governmental authority? A federal district judge reminds us that a state insurance commissioner, when acting as receiver of an insolvent insurer, acts in a different capacity to his...more

Alston & Bird

Bracing for the Next Wave of Delaware Unclaimed Property Reform: Review of SB 103 and SB 104

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Our Unclaimed Property Team examines a pair of fast-tracked Delaware bills that would reform a swath of the state’s escheat laws in response to ongoing litigation and other disputes over audits and voluntary disclosure...more

Rivkin Radler LLP

N.Y.’s Real Estate Transfer Tax, The 2022 Budget, And Responsible Person Liability

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Approximately two weeks ago, Gov. Cuomo and the New York State Legislature agreed upon a budget for the State’s 2021-2022 fiscal year. Although most businesses and their owners have understandably focused their attention on...more

Seyfarth Shaw LLP

Rhode Island Superior Court Establishes Non-Liquidating Receivership Calendar in Response to Covid-19 Crisis

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On March 31, 2020, the Rhode Island Superior Court announced the creation of its COVID-19 Receivership Program. The Program establishes a unique non-liquidating receivership calendar intended to assist Rhode Island businesses...more

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